LexisNexis is to launch a version of it is US Risk Solutions product for the UK insurance market.
Designed to help insurers better assess risks at the point of quote, LexisNexis uses a proprietary supercomputing architecture to handle tens of millions of enquiries a day. This technology will be adapted for UK requirements and legislation.
LexisNexis currently works with more than 300 general insurers in the US. The company has developed and managed insurance industry contributory databases for more than 25 years, with carriers contributing more than 99% of motor claims, 97% of home claims, and 91% of motor policies in the US.
Steve Treloar, UK general insurance retail director, Aviva said "Aviva welcomes the arrival of LexisNexis Insurance Solutions into the UK insurance data market. Their vast experience in the US, advanced technology and transparent approach to consumer disclosure will allow greatly enhanced assessment of risk at point of quote."
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